In our current health insurance system, most of us pay exorbitant monthly fees for insurance coverage with no real guarantee all our medical expenses will be fully—or even partially—covered. And, make no mistake, health insurance companies are incentivized to delay, complicate and deny your claims as much as possible to maximize their profits.
It’s no wonder the insurance industry is one of the most mistrusted in all of America.
The kNew Health Cooperative will be run on an entirely different system using the ultimate transparent platform: the blockchain. If you’re not up on blockchain technology, don’t worry—it’s not as complicated as it may seem and you don’t have to be a tech person to get where we’re coming from. Put very simply, the blockchain is a decentralized (meaning spread out), peer-to-peer-driven technology which relies on transparency, community use and user’s satisfaction to exist and thrive. In other words: it’s the technology of community, driven by the people… not an exclusive group of investors or executives.
In the context of the kNew Health Cooperative, this revolutionary blockchain platform will allow us to:
+ Use an algorithm which ensures you’re never overcharged. This lets us accurately and fairly calculate your monthly share based on your individual health and the health of the co-op community.
+ Take only 10% of your monthly share to operate the co-op. The other 90% goes into the cooperative share bucket (traditional insurance companies only use about 50-60% of premiums to pay claims, without disclosing where the rest of your money goes).
+ Store all cooperative financial transactions publicly on the blockchain, so you know precisely where your money is going at all times.
While this all may sound too good to be true, it’s not. This is the future of technology and healthcare folks!.